It’s here! The iPhone 4S and iPad 2 untethered jailbreak for iOS 5.0.1 was just released after months of anticipation, and months of hard work by pod2g and the rest of the leaders in the jailbreak community.

A huge thanks is owed to the dream team of hackers including pod2g, p0sixninja, MuscleNerd, planetbeing, Saurik, and no-doubt countless others.

Take a look inside for more details surrounding this groundbreaking moment…

Facts: This is the first jailbreak, untethered or otherwise for the iPhone 4S. The iPhone 4S was released last October, so it took about 3 months for a jailbreak to come to fruition.

This is the second jailbreak for the iPad 2. The first was Comex’s Jailbreakme for iOS 4.3.3. It took a bit over 4 months for the first iPad jailbreak to be released, so the iPhone 4S jailbreak was actually released fairly quick.

The iOS 5.0.1 untethered jailbreak is compatible with the following:

iPad 2 running iOS 5.0.1

iPhone 4S running iOS 5.0 or 5.0.1

As previously noted, there will be three jailbreak tools released that are all capable of jailbreaking the iPhone 4S and iPad 2. They are as follows:

Dev Team CLI – A command line inteface that’s great for troubleshooting. Read More.

RedSn0w – The Dev Team’s traditional graphical user inteferface used for jailbreaking. This will be released sometime later after the CLI. Read More.

So far, only Absinthe for Mac is available. A Windows version is in the works and should be released shortly. The Dev Team’s CLI shouldn’t be too far away either. We’ll keep you informed as news come.

Head over to our downloads page and download Absinthe now. We’ll be following up shortly with a full tutorial that shows you how to jailbreak your iPhone 4S and iPad 2 using this new tool, along with the Command Line Interface tool (CLI) from the iPhone Dev Team.